The Consumer Financial Protection Bureau ended a consent order earlier than expected against the credit bureau TransUnion, saying the company already paid a $5 million fine and $3 million to consumers.
An 11-page paper by the agency signaled its intent to take a higher-profile role in ensuring that regulators are not inappropriately hampering banks' adoption of new technologies to reach customers, while also keeping an eye out that institutions are able to handle the risks involved.
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The Wyoming-based digital asset bank filed paperwork to challenge last month's district court ruling, which affirmed the Federal Reserve's view about its discretion over master account applications.
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To build their executive presence in meetings and on video calls, junior employees should embrace flexible schedules — and possibly media training, Michelle Young of Worldpay and Anna Greenwald of MoneyGram International said at American Banker's Payments Forum.
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Consumer spending slowed and charge-offs rose during the first quarter, but Bread Financial said a pending late-fee rule may not be as devastating to its revenue as the Columbus, Ohio-based firm initially feared.
A near-collapse of the global software vulnerability database exposed critical weaknesses that could leave banks unable to track cyber threats.
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Vanguard and TIAA-CREF stand out in terms of offering research and trades via mobile devices, according to Corporate Insight.
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Banks are offering consumers as much as a 6% return on certain U.S. checking accounts, a Bankrate.com survey found.
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Bank of America's Andrew Sieg, head of retirement services, will now also lead its global investment solutions unit as Kunal Kamlani steps down and leaves the company.
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The Department of Housing and Urban Development will remove some barriers to government-insured condominium lending next month, including a post-crisis measure housing industry groups have long complained about.
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With the agency mulling changes to the “Qualified Mortgage” regulation, mortgage lenders say little-known standards for how they document a borrower’s income would be a good place to start.
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Banks currently can help their CRA performance with mortgages to anyone in a distressed neighborhood, but Joseph Otting said officials crafting a reform plan are considering limiting that to lower-income borrowers.
Increased demand from borrowers may hinge on Federal Reserve Chair Jerome Powell and his colleagues cutting interest rates this fall.
A federal judge granted a preliminary injunction that preserves the Consumer Financial Protection Bureau's existence, reinstates fired employees and contracts, requires data be preserved and mandates that employees go back to work.
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A new study finds that in the six months after a rate cap was imposed in Illinois, the number of subprime loans being made declined, and subprime borrowers reported a decline in their financial well-being.
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The Supreme Court's insistence that Congress expressly authorize regulatory action on 'major questions' is destined to run afoul of the administration's efforts to set rules of the road for cryptocurrency.
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Banks, flush with money to lend, will keep upward pressure on inflation in 2023 and perhaps several more years as they lend out their bloated reserve balances.
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The Minneapolis-based bank is still exploring stablecoin options outside of custody services, but sees opportunity in trade finance, CEO Gunjan Kedia said at The Clearing House Annual Conference in New York Wednesday.
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Large banks seem comfortable paring back their capital positions while they await an updated proposal on the so-called Basel III endgame. The rules are widely expected to be more lax than what was proposed during the Biden administration.
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The ICBA opposed Coinbase's filing for a trust charter in a public letter as Comptroller Jonathan Gould defended the fintech charter process on Tuesday.
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After more than a quarter-century as a regulator, Jason Sisack had planned to enjoy some time off before taking a new job. He reversed course once Carver, which is operating under an enforcement action, approached him.
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Comptroller of the Currency Jonathan Gould said Tuesday that chartering compliant fintechs is "the only way" to level the playing field between banks and nonbanks. His comments come as the Office of the Comptroller of the Currency weighs new trust charters and stablecoin rules.
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With the U.K. and U.S. giving a green light to the company's $22.7 billion scale-building deal to buy Worldpay, Global Payments has begun its integration strategy.
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Anchorage Digital Bank, Custodia Bank and Erebor Bank could be among the first recipients of limited, special-purpose payment accounts recently floated by Federal Reserve Gov. Christopher Waller.
The challenger bank in the third quarter launched Cash Coach, an AI-powered customer insights engine that helps consumers optimize earned interest in deposit accounts and minimize interest charges on credit cards. SoFi plans to roll out a "more comprehensive" SoFi Coach that incorporates all areas of financial services as part of its strategy to rival banks.
The 23rd annual ranking of women leaders in the banking industry.
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